Standard Costs – Overview 1. What are standard Costs. 2. Why do we set standard costs? 3. How do we set the standards? 4. Calculating Variances: DM and.
© 2009 Pearson Prentice Hall. All rights reserved. Pricing Decisions and Cost Management.
1 CHAPTER 8 PRICING Study Objectives Compute a target cost when a product price is determined by the market. Compute a target selling price using cost-plus.
Introduction Prepared by John Nicholas, Ph.D. Loyola University Chicago Project Management for Business, Engineering, and Technology.
Accounting 6310 Chapter 12 – Standard Costs: Direct Labor and Materials.
